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What is young capital gain or loss

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Question 1: Young purchased all of the stock of Ohio Corp. on January 1, 2014, for $250,000. Ohio produced a loss for 2014 of $280,000 and paid a dividend of $30,000 to Young. In 2015, Ohio generated a loss of $140,000; in 2016, it recognized net income of $100,000. What is Young's capital gain or loss if it sells all of its Ohio stock to a nongroup member on January 1, 2016, for $40,000?

Option a. $40,000

Option b. $60,000

Option c. $140,000

Option d. $30,000

Reference no: EM132492414

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